The Cabinet also approved the Prime Minister’s draft decision to establish an investment zone in the city of Ras El Hekma.
Maait explained that by the end of June 2024, Egypt is expected to receive $1 billion from the World Bank, € 1.07 billion from the European Union, in addition to $820 million from the International Monetary Fund (IMF).
Former official highlights Ras El Hekma project's role as a game-changer in Egypt's development landscape.
Madbouly had previously stated on Wednesday that Egypt would receive the second installment of financial dues for the Ras El Hekma project in the coming weeks.
Madbouly highlighted that the government, across its various ministries, is presently focused on fulfilling its obligations within the Ras El Hekma development project.
